70 xr7 when starting cold runs extremely rough until warm up

Hello, I have a 70 xr7 and started having a problem starting the cougar. I found that the distributor hold down bolt was at least two turns loose. Once I finally got the car to operating temperature, I timed the vehicle. However, once I start the vechicle cold it runs like it’s on two cylinders and will stall out if you don’t keep your foot on the gas. Once it reaches operationg temperature it will smooth out but unitl then it runs real rough and will stall out. Does anyone have any suggestions as to what the problem may be? Thank you. It has a holly carb.

That could be several things, but I would guess choke, either stuck closed or open.